Keywords: globalisation, strategic alliances, leadership, pharmaceutical industry, innovation, India, multinational corporations, mergers, product development, exports, regulatory knowledge, intellectual property, developing countries
Strategic business leadership through innovation and globalisation: a case study of Ranbaxy Limited
Ranbaxy Laboratories Ltd. (RLL) is the largest pharmaceutical company incorporated in India. It is also amongst the top league globally and is ranked 9th largest generic company worldwide. Ranbaxy is also credited with the tag of true Indian multinational. The company traces its roots to a chemist shop in Delhi. It is one of the first Indian pharmaceutical company to start a joint venture abroad. Rapid growth of Ranbaxy is attributed mainly to its focused research and joint ventures in India and abroad. It is also innovation and market driven, with a strong distribution network. The company was able to grow successfully in highly competitive markets. In the current business scenario, Ranbaxy is focusing on innovation, alliances, mergers and globalisation to achieve its long-term vision of becoming a global pharmaceutical giant with a turnover of $1 billion by 2004. The fruits of such efforts are evident in the latest financial result, as a large chunk of its income comes from new products and exports of generics. The growth of Ranbaxy can be attributed to its ability to identify good windows of opportunity and its ability to grow by leveraging innovation, regulatory knowledge and alliances.